On Saturday, the Trump administration said it would put in place 25% tariffs on Canada and Mexico and 10% tariffs on China, effective Tuesday. Early Monday, the administration said they are pausing plans for the 25% tariffs on Mexico for one month subject to more negotiations.

Chief Executive Officer Kurt Sievers said on a call with analysts, “there are so many unknowns, that we could only get it wrong.” STMicro’s results came before Trump’s formal announcement of sweeping tariffs on the three countries,

U.S. President Donald Trump signed an order on Saturday that imposes 25% tariffs on U.S. trade partners Canada and Mexico on imports from those countries. For Canadian energy companies, the tariff is slightly less at 10%. The order also includes a 10% additional tariff on imports from China.

President Donald Trump's move to impose or threaten massive tariffs against China, Mexico, Canada and the European Union affect about $2 trillion worth of U.S. imports and have the potential to disrupt business for major Cincinnati companies that rely on foreign goods or that sell goods overseas.

Some of the purported concessions that led to a 30-day pause on the tariffs were things Canada and Mexico had already done before Trump’s threat, but it’s complicated.

The initial market reaction was relatively mild. Future reactions may not be.